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Last Updated : Feb 12, 2020 11:55 AM IST | Source: Moneycontrol.com

Ircon International share price jumps 5% after board recommends stock split

The board declared an interim dividend of Rs 13.45 per share (134.50% of the paid-up equity share capital) for the financial year 2019-20.

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Ircon International share price jumped over 5 percent intraday on February 12 after the company reported strong numbers and recommended the sub-division of its equity shares.

The company in the quarter ended December 2019 posted 52.5 percent growth in its net profit at Rs 142.43 crore against Rs 93.39 crore in the year-ago period.

Revenue of the company was down 3 percent YoY at Rs 1,210.95 crore.

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The company board has recommended the proposal of splitting the company's 1 equity share of the face value of Rs 10 each into 5 equity shares of Rs 2 each, subject to shareholders approval.

The board declared an interim dividend of Rs 13.45 per share (134.50 percent of the paid-up equity share capital) for the financial year 2019-20.

Further, the board also fixed February 24, 2020 as the record date for the purpose of payment of interim dividend.

The interim dividend will be paid on March 2, 2020, onwards.

At 11:03 hrs, Ircon International was quoting at Rs 461.30, up Rs 16.05, or 3.60 percent on the BSE.

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First Published on Feb 12, 2020 11:55 am
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